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Brexit Referendum and Business Investment in the UK
by Lucyna Gornicka

Series:Working Paper No. 18/247
ISBN 9781484382011
Code: #WPIEA2018247

Publication year: 2018

Cdn: $27.00; US: $23.50
Language: English
20 pages
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In this paper I apply firm-level analysis to examine how the Brexit process has affected business investment in the UK. An interaction term of potential trade costs after exiting the EU and a measure of firms’ participation in global trade is used as a proxy for firm-level exposure to Brexit-related effects. The results suggest that potential trade costs have had a considerable and statistically significant negative impact on firm investment in the UK after the referendum. At the same time, the post-referendum sterling depreciation has likely contributed positively to investment expenditure by more foreign-oriented firms.
Brexit Referendum and Business Investment in the UK
Cdn: $27.00; US: $23.50
International Monetary Fund (IMF) BookID: 123942 Added: 2018.12.2